Canada’s Quebec may be the electric car industry’s new best friend as it may “have enough heavy rare earths minerals to spur the demand for electric cars in the future, a study made by the KPMG-SECOR commissioned by Matamec Explorations Inc. and Toyotsu Rare Earth Canada (TRECan) had revealed recently,” reports the International Business Times.
“The study’s finding is quite significant to the electric car industry struggling to tap the rare earths materials in China. Quebec has the potential to become a strategic producer of these critical resources with rare earths exploration companies such as Matamec spearheading its development.”
“‘The electrification of transportation is now the center of Quebec’s development strategy and Matamec is well positioned to become the first heavy rare earth mining project in Quebec and Canada,’ says André Gauthier, President and CEO of Matamec said in an emailed statement. ‘Kipawa would, alone, produce 9% of the world consumption of heavy rare earths outside China.'”
In metal price news for rare earths…
The past week saw all metals on Rare Earths MMI® hold steady. Cerium oxide didn’t move. Following a steady week, prices for dysprosium oxide closed flat. The price of europium oxide did not change since the previous week.
Prices for lanthanum oxide remained constant, closing the week. Neodymium remained essentially flat from the previous week. Neodymium remained unchanged for the week. Neodymium oxide traded sideways last week.
Praseodymium oxide prices held steady from the previous week. The week finished with no movement for rare earth carbonate. Samarium oxide prices held steady from the previous week. Following a steady week, prices for terbium metal closed flat.
The week finished with no movement for terbium oxide. The price of yttria did not change since the previous week. Yttrium traded sideways last week.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.